Cerolini & Ferrari assists RDA Renting in issuance of Notes
Cerolini & Ferrari Abogados has assisted RDA Renting, the guarantors and arrangers, in the issuance of its series 3 notes, under the Régimen PyME CNV Garantizada for a nominal amount of ARS $200,000,000.
The issue was made on 10 March at a variable interest rate equivalent to the Badlar Rate plus an applicable margin of 4%, payable quarterly and at a price of 100% of the nominal value, with a maturity date of March 2025. The Notes will be redeemed in 7 consecutive quarterly instalments starting on month 6 from the issue date. These instalments will be equivalent to 14.25% of the principal amount of the Bonds in months 6, 9, 12, 15, 18, 21 and 14.50% in month 24.
The issue was aimed at the local market and the Notes have been authorised to be listed on Bolsas y Mercados Argentinos (ByMA), and to be listed and traded on the Mercado Abierto Electrónico (MAE).
Banco de Servicios y Transacciones (BST) acted as arranger, placement agent and guarantor of the Notes; while Banco Supervielle acted as arranger and guarantor; and Fid Aval acted as guarantor.
RDA Renting specialises in fleet management and vehicle leasing. Renting is a system for acquiring and managing vehicles through a long-term contract.
Ana Vea Murguia and Melina Lozano acted as in-house lawyers for BST.
Cerolini & Ferrari’s team included partner Agustín L. Cerolini (pictured) and associates Martín Chindamo and Dana Köni.
